THE reduction in the time-to-market (the duration between the time a prospectus is issued until the company is listed) for initial public offerings (IPOs) from 25 market days currently to 13 market days starting Dec 1 is applicable to public offer sizes of up to 20 million shares.
In a statement yesterday, the Securities Commission (SC) said the reduction would be achieved by reducing the offer period to investors from a minimum of 10 market days to five market days, the processing time taken by the issuing houses and Malaysian Central Depository and other preparatory work by the advisers from 12 days to six days and KLSE listing procedures from three to two days.
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